Researchers explore how the relationship between federal, state, and local governments mutes the benefits of the federal government’s fiscal austerity measures. The burden is shifted to state and local governments that face higher demand for safety net program... More »
A new study finds that Americans use personal bankruptcy as a substitute for traditional health insurance, encouraged by stringent bankruptcy laws. More »
Firm-level data across 36 countries suggests that shareholder protection laws do mitigate the adverse consequences of banking crises by allowing stock markets to act as an alternative source of financing. More »
A new study analyzes the effects of a new grandchild on a grandmother’s labor force participation and attempts to connect caring for grandchildren with retirement choices. More »
The authors of a study analyzing state budgets find that the lack of fiscal governance, defined as enacting a budget on time, causes variation in general obligation bond yield spreads for state issuers. More »
After being randomly assigned to a performance-based incentive structure, tax officials in Pakistan had significantly higher levels of revenue collection. This result suggests a potential solution to the widespread corruption and low collection rates of tax au... More »
New research shows that increased urbanization may be a positive development because of a persistent “productivity gap” that exists between agricultural workers and workers employed in other sectors of the economy. More »
A new study finds that government-sponsored youth employment programs may reduce involvement in criminal activities and mortality rates for youth from low-income families. More »
A new study finds that individuals increase the age in which they intend to claim Social Security benefits when they are offered lump sums instead of and equal to their future benefit increases. More »
Using forty years of price data from the raw cane sugar market in New York City, trade economist Douglas Irwin finds that market demand responds asymmetrically to tariff increases versus tariff reductions. More »
A new study measures intergenerational social mobility in the US, estimating the probability that a child born at a low rung of the income ladder can reach the top. The authors find that social mobility has remained stable in the US for the last 30 years. More »
Seen as an initiative to restructure international financial structures, the BRICS bank may not necessarily be a stepping stone to further security and strategic institutionalization. More »